DJIA Weekly Recap: Alcoa Ahead of Earnings, Intel’s CES Boost

3M (NYSE:MMM) announced the purchase of office product company Avery Dennison (NYSE:AVY) for $550 million. 3M predicts that the purchase will lead to a rise of 0.03 cents earnings per share.

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Caterpillar (NYSE:CAT) Both Caterpillar and Rio Tinto (NYSE:RIO) are taking on unions in Canada at the same time. Caterpillar is locking out 450 workers at a locomotive plant in Ontario, and Rio doing the same at a Quebec smelter. whether these actions will help increase shareholder value is an open question.

Bad news for Boeing (NYSE:BA): the company is delivering less aircraft than expected for 2011. The good news: Boeing reaping a higher yield on each aircraft delivered than originally expected. Sterne Agee has decided that the good outweighs the bad, and their have raised their estimates of Boeing from $4.55 to $4.60 a share.

Cisco (NASDAQ:CSCO): JP Morgan has upgraded Cisco from neutral to overweight, and the target price from $19 to $21. They believe Cisco suffered from “a perfect storm of small issues”, and that increased U.S. spending in 2012 would act as a tailwind.

Microsoft (NASDAQ:MSFT) was up big at the beginning of trading and has remained there. Apparently, there is greater interest in Windows 8 in servers than in tablets, which makes one think Microsoft is a company of the past.

Intel (NASDAQ:INTC): There are clouds on the horizon for Intel, which has been downgraded by Barclary’s. The British bank now believes that semiconductor revenue growth will come in 0-4% instead of 2-5%. Also, Sterne Agee is not Intel’s best friend today. They have downgraded Intel to Neutral. Reason 1: manufacturers will use more ARM (NASDAQ:ARMH) chips from rivals. Reason 2: Qualcomm (NASDAQ:QCOM) is better positioned to take advantage of smartphone growth.

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Brian Harper has sold American Express Company (NYSE:AXP) because he considers the current valuation coupled with the decking value of the name a dangerous combination. AXP shares have traded in a 52-week range of $41.30 to $53.80.

Don’t Miss: Aloca Kicks Off 2012 Earnings Season with These Expectations.

Ivan Hoff attributes the decline in McDonald’s (NYSE:MCD) and other big names to a reflation that boosts commodities. Unfortunately, any rise in inflation hurts restaurants in two ways: costs go up, while consumers are less likely to dine out at the same time.

Merck and Co. (NYSE:MRK): Merck is experiencing double-digit growth for Inverness, an HIV treatment for children and adolescents. Merck’s stock has moved upward almost 50% since its low last summer. The growth has been notable for its consistency as well.

Kraft Foods (NYSE:KFT) Kraft will be providing flavors for Sodastream, which is Kraft’s first entrance into the carbonated beverage market. KFT shares have traded in a 52-week range of $30.21 to $38.05.

Bank of America (NYSE:BAC): The LA Times recently ran a story that pointed out how Bank of America would cut off the lines of credit of small businesses, and demand that they repay their balances in full or be forced into repayment plans with far higher interest rates. Bank of America’s response was to include a statement with terms like “standard practices” and ‘annual renewal process.” This is not going to win any hearts or minds.

Alcoa (NYSE:AA) shares came down as EPS estimates Q4 plummeted by a sorry 96%. The stock recovered as the day progressed, but this bad news is sticking to Alcoa again heading into earnings on Monday after the bell.

Investing Insights: Aloca Kicks Off 2012 Earnings Season with These Expectations.

DuPont (NYSE:DD): There is a shortage of corn seed, which could make corn prices very high and/or very volatile. This could affect DuPont in a lot of different ways.